The combined solution, first demonstrated in April 2012, has already
been selected by a major Northern European Bank for their institutional
and retail FX spot and derivatives business. Both Caplin and Progress
are widely-deployed in the FX market and the combined offering is a
result of significant customer-led demand for an end-to-end solution.

The partnership enables delivery of Caplin
Trader, an HTML5 front end that runs on the Caplin Platform, for
end-user client access to capabilities provided by the Progress
Apama Capital platform. These include algorithmic trading and smart
order routing across multiple, aggregated FX spot and derivatives
markets, real-time price generation for RFQ and streaming, auto-hedging
of risk positions and order internalisation strategies.

Quotes:

Dr Richard Bentley, Vice President, Capital Markets at Progress
Software, commented, “Partnering with Caplin is a natural choice for
us, as we both attract customers with similar profiles – banks that
require robust, proven technology but need the freedom to tailor their
solution and differentiate their offering, as well as confidence that
the technology will scale as their business grows.”

Paul Caplin, CEO, Caplin Systems added, “This partnership brings
together two highly compatible and best in class technologies enabling
our clients to provide a next-generation trading service. We are
delighted but not surprised at how quickly the combined offering is
gaining market traction.”

About Progress Software Corporation

Progress Software Corporation (NASDAQ: PRGS) simplifies the development,
deployment and management of business applications on-premise or on any
Cloud, on any platform and on any device with minimal IT complexity and
low total cost of ownership. Progress Software can be reached at www.progress.com
or 1-781-280-4000.

Caplin Systems provides components and tools for building multiproduct
web trading applications and single-dealer platforms to run in a
standard browser. These are also available as a complete integrated
enterprise development and testing framework.

Our technology serves over 100,000 end-users at financial institutions
that include Barclays Capital, Crédit Agricole, Citi, Fannie Mae,
Nomura, RBS, Standard Bank, UBS and UniCredit. Caplin Systems is
privately held and head-quartered in the City of London with an office
in New York.

Progress and Apama are trademarks or registered trademarks of Progress
Software Corporation or one of its subsidiaries or affiliates in the
U.S. and other countries. Any other names contained herein may be
trademarks of their respective owners.

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